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Updated 3 months ago, 08/06/2024

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9,365
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6,550
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John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
6,550
Votes |
9,365
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Ongoing Problems--CONVENTUS LENDING AND SHELLPOINT SERVICING

John Thedford#5 Wholesaling Contributor
  • Real Estate Broker
  • Naples, FL
Posted

I got two loans from Conventus a few years back. Their original servicer did a good job. They transferred servicing to Shellpoint. This has been a nightmare.
To me it appears conventus doesn't care. However, because Shellpoint has CONSISTENTLY FAILED to properly credit my accounts over and over, it is a non-stop string of emails stating I am past due, blah blah blah. NEVER MISSED ONE PAYMENT. NEVER A DAY LATE.

Their servicer Shellpoint now claims I owe THOUSANDS more than I do. 
Conventus pushes everything on Shellpoint.
Isn't conventus responsible for the actions of their agent. 
Do I have legal cause since their payoff figures are not even close to correct.
I have the amortization schedule with check number written to each payment due.
Can't put up with EITHER of these companies any more.


User Stats

37
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8
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Nick Despotidis
  • Investor
  • San Gabriel CA
8
Votes |
37
Posts
Nick Despotidis
  • Investor
  • San Gabriel CA
Replied

Im just seeing this, wow this is sad

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16,868
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14,416
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Chris Seveney
Lender
Pro Member
  • Investor
  • Virginia
14,416
Votes |
16,868
Posts
Chris Seveney
Lender
Pro Member
  • Investor
  • Virginia
ModeratorReplied
Quote from @John Thedford:

I got two loans from Conventus a few years back. Their original servicer did a good job. They transferred servicing to Shellpoint. This has been a nightmare.
To me it appears conventus doesn't care. However, because Shellpoint has CONSISTENTLY FAILED to properly credit my accounts over and over, it is a non-stop string of emails stating I am past due, blah blah blah. NEVER MISSED ONE PAYMENT. NEVER A DAY LATE.

Their servicer Shellpoint now claims I owe THOUSANDS more than I do. 
Conventus pushes everything on Shellpoint.
Isn't conventus responsible for the actions of their agent. 
Do I have legal cause since their payoff figures are not even close to correct.
I have the amortization schedule with check number written to each payment due.
Can't put up with EITHER of these companies any more.



 1. Shellpoint is the servicer so that is who you should be speaking with. 

2. Send a QWR (qualified written response) and copy your states banking and financial division. Include copies of the cashed checks/ACH payments for the payments they say you did not make. 

3. Also file a complaint with the CFPB 

Submit a complaint | Consumer Financial Protection Bureau (consumerfinance.gov)

Regarding do you have any legal action - you can prove you do not owe it but you will not get any compensation - courts have ruled long ago the only recourse you have is actual money you lost - there is no "pain and suffering" if a statement is incorrect and you have to fight with them on it.

  • Chris Seveney
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7e investments
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